Varsity, which was placed in the app store for a limited audience in March, has a 4.7 star rating and has been downloaded 20,000 times so far. ET had reported in its January 30 edition that Zerodha was working on a separate application for Varsity.

Starting with two modules under Varsity, Bengaluru-based Zerodha aims to expand the education ecosystem around stock trading and investments.

Nithin Kamath, chief executive officer of Zerodha, confirmed the development and said the company is betting on Varsity to attract millennials, among others, on to its platform.

“Over the next six months we will be majorly working on Varsity to make the application better and more powerful. Since it is mainly targeted at the millennial crowd, we want to get to a million users on the application as soon as possible,” said Karthik Rangappa, who leads the Varsity programme at Zerodha.

Kamath said that while all communication with Zerodha’s customers is currently in English, the company is working on introducing vernacular languages as well, starting with Hindi and Gujarati.

In early January, Zerodha managed to crack into the top position in terms of number of active traders on its platform. Kamath said that though the rate of addition of new clients has slowed for the entire industry, the platform still processes about 13% of all retail trades being clocked in the country. “We are adding 40,000 clients last month and are on track to add 50,000 this month,” he said.

Besides trading, Zerodha has also been pushing alternate investment options. ‘Coin’, the mutual funds offering from Zerodha, has about 200,000 users and assets under management of Rs 2,700 crore, Kamath said. The product competes with players like Paytm Money and ET Money.

ET Money, which is offered by Times Internet—part of the BCCL group that publishes The Economic Times newspaper—is said to have an AUM of Rs 2,000 crore.

Kamath said Zerodha will diversify over the next one year to other fixed income instruments to help its users beat market volatility. “We will be offering public sector undertaking bonds over the next couple of months and also offer other tax-free bonds, which are almost like sovereign backed,” said Kamath.

In October, Zerodha had launched trading option of government bonds and securities on its platform.